US stocks open higher by more than 1%

2019-08-16 17:02:57 GMT (Economies.com)
US stocks open higher by more than 1%

US stocks opened higher today, shrugging off the global recession concerns and the ongoing US-China trade war.

 

Market's speculations around a near recession for the US economy mounted, especially after the US bonds yield curve inverted, which is a strong signal of a possible recession.

 

Former Fed chairwoman, Janet Yellen, sees that the yield curve inversion doesn't have to necessarily be a signal this time, while stating alongside with other Fed's members that the US economy is still strong.

 

The US economy revealed today that the housing starts fell by 4% to 1.191 million in July, while the building permits rose by 8.4% to 1.336 million.

 

By 06:04 GMT, Dow Jones rose by 1.2% or 330 points to reach 25,906, Nasdaq rose 1.7% (133 points) to 7,900, and S&P 500 rose by 1.5% or 42 points to 2,890.

 
 
 
  Symbol Last Change Chg.%
1.0996
-0.0039
0.3561%
1.2997
-0.0085
0.6471%
Tadawul
8185.51
19.43
0.24%
17.444
-0.660
3.646%
53.665
-0.608
1.119%
59.93
0.45
0.76%
1569.295
-1.335
0.085%
 
 
US
 
Europe
 
Asia